Statistical Authority

Greek unemployment rate fell to 11.2% of the workforce in April, from 12.7% in April 2022, but slightly up from 11.1% in March 2023, the country's independent Statistical Authority said on Thursday.

The number of unemployed people totaled 527,706 in April, down 11.9% from April 2022, but up 0.9% from March 2023.

The drop in Greece's unemployment rate appears to have been achieved through the creation of more jobs at low salaries, the Hellenic Federation of Enterprises (SEV) says, noting that the lion's share of the employment spike is seen in the salary bracket of 501-600 euros per month. The higher the salary, meanwhile, the lower the rate of the increase in employment.

The domains of healthcare and education are considerably understaffed in Greece in comparison with the average levels in other European Union member-states, which according to a special study by the Fiscal Council is partly attributed to the economic crisis.

Stores and consumers in Greece are gearing up for Black Friday - normally the last Friday of November, but on November 23 this year - as the shoppers' "holiday" when many retailers reduce their prices and provide special offers has been embraced by the local market too.

Greek exports enjoyed double-digit annual growth in the first four months of the year, while the trade deficit posted a decline. The Panhellenic Exporters Association is expressing optimism that the rising trend will continue for the export sector in the coming months despite the adversities from the trade conflict and US tariffs on steel and aluminium imports.

Supermarket company officials expect sales to rise in the first half of the year, albeit marginally, after statistics showed a considerable decline in November.

With data showing a rise in road accidents in September and October, experts appear pessimistic about December and January due to the increased risk factors resulting from holiday excess.

Greece is sitting on a demographic time-bomb, as its population is aging at an alarming rate, according to data released by the Statistical Authority (ELSTAT). The figures show that there were 25,894 more deaths than births in 2016, a trend that persisted from 2015 when 29,368 more people had died than were born.

The trade deficit is showing an alarming trend upwards, with negative consequences on Greece's external debt and gross domestic product.

Part-time employment is the dominant trend in the local labor market ,as it has grown by almost 100 percent in the last 10 years to reach 10.5 percent of all employment in the first quarter of 2017. Even so, the Greek rate is considerably below that of other European Union states, according to Eurostat figures.